This week’s guest is Manooj Mistry who has been at the heart of the growth of the ETF market in Europe. Manooj shares his personal journey with Roy Zimmerhansl - the tremendous growth of ETFs in Europe over the past 20 plus years.

Manooj was formerly the head of ETFs and Index Investing at DWS (the asset management division of Deutsche Bank), where he was part of the team that established the Xtrackers ETF business in 2007, Europe's number two provider by assets under management. He also served as Chief Executive of DWS Investments UK Limited with responsibility for traditional investments and UK distribution. Prior to DWS, Manooj worked at Merrill Lynch International where he launched the first ETFs (LDRS ETFs) in Europe in April 2000.

Manooj on LinkedIn: https://www.linkedin.com/in/manooj-mistry-9b0b39122

Whitepaper referenced by Roy: ETF Liquidity, Securities Finance and Collateral Management

Show timeline

02:15 Manooj at the beginning of ETFs in Europe

07:30 Why multiple stock exchange listings for ETFs?

13:05 Merrill exits business, early days of institutional ETF use

16:38 DWS enters ETF market but with a different focus on synthetics

20:10 Comparison between physically backed and swap backed ETFs

25:13 and then … the Global Financial Crisis

28:55 The battleground between synthetic and physical ETFs

35:30 Whatever happened to synthetic ETFs?

37:42 Where do ETFs go from here?

41:00 Manooj's experience as an investor doing securities lending

48:40 ESG and ETFs

53:00 Closing thoughts

56:39 Roy's wrap up

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